Tech sell off

BANGKOK (AP) — Shares in Europe are bouncing back Tuesday and Wall Street appears headed for gains as Mexico tries to ease trade tensions with the U.S., while President Donald Trump meets with Britain's prime minister and leading CEOs amid questions over Brexit. A report showing that the unemployment rate has fallen fell to its lowest in more than a decade in the 19 countries that use the euro also appears to have helped European markets. Germany's DAX led the way, climbing nearly 0.9% to 11,893. Britain's FTSE 100 rose 0.1% to 7,194 and the CAC 40 in France also picked up 0.1% to 5,247. Wall Street looked set to rise on the open, with the future contract for the Dow Jones Industrial Average up 0.4% at 24,986. The future for the S&P 500 index added 0.4% to 2,761. Mexican officials have been taking to Twitter to communicate that they are working to de-escalate tensions over immigration and avoid punitive tariffs on all Mexican exports to the U.S. that Trump threatened last … [Read more...] about Stock markets turn around after tech sell-off

(Reuters) – European shares fell half a percent on Tuesday as the first signs of U.S. antitrust action against Google and other major technology companies drove peers in Europe lower, following losses on Wall Street and Asian markets overnight. Europe’s main STOXX 600 was down 0.5% by 0722 GMT, with the technology sector losing 2%. New York’s tech-heavy Nasdaq entered correction territory on Monday as Amazon and Alphabet’s Google were the first to face an antitrust probe from U.S. regulators, with sources saying Apple and Facebook will also be drawn in. Auto stocks outperformed, climbing about half a percent on better than expected sales from the U.S. market. Global stock markets have succumbed to selling pressure in recent weeks, with the benchmark STOXX 600 posting its worst monthly performance in over three years in May. Weak economic numbers worldwide have pointed to slowing growth and the risk of recession ahead as a trade war between the United States … [Read more...] about Tech sell-off spreads to Europe after U.S. antitrust moves

Trader Gregory Rowe works Thursday on the floor of the New York Stock Exchange. The three major U.S. stock indexes finished the day down more than 1%. Heightened worries that the U.S. and China are headed for a long standoff in their costly trade dispute put investors in a selling mood Thursday. Stocks ended sharply lower on Wall Street in a broad sell-off that left the benchmark S&P 500 index on track for its third-straight weekly loss and had the Dow Jones industrial average down more than 400 points until late afternoon. Traders sought safety in the bond market, driving bond prices higher, which pulled the yield on the 10-year Treasury note to 2.31%, the lowest level in more than a year. The stock market has been highly volatile since Washington and Beijing escalated their dispute over trade earlier this month. Now, the two sides have broken off negotiations and appear set for a standoff. Investors are concerned that a prolonged trade war could stunt economic growth and hurt … [Read more...] about U.S.-China fears prompt sell-off

(Reuters) - U.S. stocks dropped on Monday, as Washington’s restrictions on China’s Huawei Technologies stoked fears about a hit to the broader technology sector and ratcheted up trade tensions between the world’s two largest economies. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan McDermid Apple Inc slumped 3.4%, weighing the most on the three main indexes and driving down the S&P 500 technology sector 1.51%, the biggest decliner among the six S&P sectors trading lower. The iPhone maker was also pressured by a warning from HSBC that higher prices for the company’s products following the latest increases in tariffs could have “dire consequences” on demand. U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell between 3.2% and 5.3%, while the Philadelphia Semiconductor Index slid 3.19%, its lowest level in over two months. … [Read more...] about Wall St. pressured as Huawei fallout worries spark tech sell-off

(Reuters) - U.S. stocks fell on Monday, as Washington’s crackdown on China’s Huawei Technologies stoked fears about a hit to the broader technology sector and ratcheted up trade tensions between the world’s two largest economies. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan McDermid Apple Inc slumped 3.3%, weighing the most on the three main indexes and driving down the S&P 500 technology sector 1.27%, the biggest drop among the six S&P sectors trading lower. The iPhone maker was also pressured by a warning from HSBC that higher prices for the company’s products following the increases in tariffs could have “dire consequences” on demand. U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell between 3% and 5%, while the Philadelphia Semiconductor Index slid 2.9% to its lowest level in over two months. “Huawei is sort of … [Read more...] about Wall St. lower as tech stocks sell-off on Huawei fallout worries